The 426 Hemi engine, commonly called the elephant, can cost $4,000 to $8,000 alone and the labor costs to install it ranges between $2,000 and $3,000, as of 2015. The price reflect installing a performance engine, smaller four-cylinder engines are generally less expensive to build and install.
The 426 Hemi is an older engine that appears in general motor vehicles from 1966 - 1971. The engine is rated at 7.0 liters and manages to put down 433 horsepower at 490 lbs. of torque. It was most prominently featured in the 1971 Dodge Charger, 1968 Dodge Dart 66, 1970 Plymouth Superbird, 1970 Dodge Challenger and 1971 Dodge Superbee. Due to its age, finding a replacement 426 Hemi is an expensive procedure causing the overall cost to be higher.